Here is a recap of major activities that happened in Africa in the last 7 days. You can watch the video here: 

Central Africa

  • Cameroon Automobile Industry Company started construction on a car assembly plant in Douala. The facility will assemble private and commercial vehicles for the domestic market.  The plant will be commissioned in 2021.
  • In Gabon, Perenco will acquire stakes in seven oil fields and the Cap Lopez oil terminal from Total Gabon for $290 to $350 million.

Eastern Africa

  • Ethiopia vaccinated close to 15 million children against measles during a nationwide vaccination drive over the last 2 weeks.
  • The Ethiopian government unveiled a locally assembled electric car by Marathon Motor. This is a joint venture between Hyundai and marathon runner Haile Gebrselassie.
  • International airlines can resume flights in Kenya this week.
  • Total expects to start gas exports from its LNG plant in Mozambique by 2024.
  • IMF disbursed US$171.9 million to Madagascar as part of its rapid credit facility.  This is the second disbursement bringing the total to $337.9 million.
  • The African Development Bank granted $25 million to Somalia.
  • Total Uganda issued tenders for a large scale onshore oil project in Uganda.
  • The German government granted Euro 58.4 million to the Ugandan government. 

Northern Africa

  • In Egypt, Total, along with its partners BP and ENI, announced that it had made a significant gas discovery at an offshore well in the Mediterranean.
  • The Arab Monetary fund signed a $649 million loan with Egypt. Funds will be used to support reforms in the public finance sector amid the coronavirus pandemic.
  • Morocco’s king announced a plan of $12.8 billion in stimulus to aid the country’s recovery from COVID-19.
  • Tunisia’s interior minister was appointed as the new prime minister.

Southern Africa

  • Gaborone, Botswana’s capital reinstated a two-week lockdown to curb a second wave of the coronavirus.
  • Eswatini received an emergency loan from the IMF to the value of $110 million.
  • Lesotho received a $49.1 million emergency loan from the IMF in support of its fight against the COVID-19 pandemic.
  • Namibia approached the IMF for $274 million in funding to help fight COVID-19.
  • The IMF approved South Africa’s request for a US$4.3 billion loan to support its fight against the COVID-19 pandemic.

Western Africa

  • The African Development Bank approved $53 million as a grant to The Gambia, Liberia and Sierra Leone in support of measures against COVID-19 pandemic
  • In Ghana, President Akufo-Addo attended a groundbreaking ceremony on the $49 Million Damongo Water Project
  • Ghana’s Komenda Sugar Factory raised investment from Agrotech to the value of $21 Million.
  • The African Development Bank approved a $69 million grant to Ghana to support its COVID-19 response plan.
  • The World Bank Board approved a total of $300 million in credits and grants that will help promote electricity trade in West Africa.
  • Nigeria will comply with 1.4 million BPD OPEC output quota.

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